I do Paint Chip Poetry, but I have kids use the names of the colors to integrate into their poems. This looks like fun -- I'll have to try it! Have kids draw them from a hat. They could practice descriptive writing using the color they draw.
We did this today and the kids loved it. Very fun way to learn about the Pilgrims' first year, their travels, their hardships, and how Squanto helped them survive. The bracelet is a great way for them to remember the events.